Property type: Private house
Address: Rīga, Stabu iela 111
Price: 630 000 EUR (642.86 EUR/m2)
Area: 980.0 m2
Land area: 566.0 m2
Object ID: RD184
Real estate tax: 950 EUR
Investment object - two buildings, 4-floor facade building and 3-floor courtyard building.
Built in 1920.
The property consists of 18 apartments, of which 6 are one-room apartments and 12 are two-room apartments. 15 apartments are rented out and three 2 room apartments need renovations.
Building are installed with new communications, new electricity, plumbing and heating sistem.
Current year's return after real estate and income taxes is 7.5%. Future yield after renovation of three more apartments, based on realistic estimates, will be 8.8%.
There is a possibility to build a roof floor for the facade building, obtaining additional living space.
Real Estate Adviser